LUKoil and the Norwegian oil company Statoil ASA have signed a memorandum on mutual understanding concerning the exploration and production of oil in the Caspian Sea, a representative of Statoil told RBC. According to the signed document, the parties are planning to explore the oil field Elama-Samur. The memorandum was signed by LUKoil vice president Ravil Maganov.
Moreover, the document stipulates possibilities for exploring and producing oil by Statoil in Russia.
LUKoil has confirmed the signing of this memorandum.